| Status | Entry Price | Stop Loss | Profit Target | Closing price |
| Closed | 1.0785 | 1.0800 | 1.0685 | 1.0765 |
This trade was executed according to Trading Plan.
Potential trade area ?
No top-tier economic reports are due from the US today so I'm expecting this pair to keep with its current trend. Sentiment for the euro zone could pick up now that a proposal for a European Monetary Fund has been made and this upbeat outlook for the region could spur risk appetite.
Entry trigger ?
I set my order at the pair's top daily ATR which coincides with the falling trend line on the 4-hour chart.
Trade management ?
I placed my profit target at the pair's bottom daily ATR. I set my stop just above the top weekly ATR of 1.0839.
I feel indifferent
23:17 on Tue, 09 Mar 2010 | Views: 17 |
+20 pips
Comments
0 comments
Pending
Entry Price 1.0785
Stop Loss 1.0845
Profit Target 1.0685
Open
Entry Price 1.0785
Stop Loss 1.0845
Profit Target 1.0685
Open
Entry Price 1.0785
Stop Loss 1.0845
Profit Target 1.0685
Open
Entry Price 1.0785
Stop Loss 1.0800
Profit Target 1.0685
Open
Entry Price 1.0785
Stop Loss 1.0800
Profit Target 1.0685
Closed
Entry Price 1.0785
Stop Loss 1.0800
Profit Target 1.0685
I feel indifferent
Trade Recap
Did everything go as planned?
Since the price broke above the minor resistance at the start of the European session, I decided to close early. The pair was having difficulty breaking below the 1.0750 mark.
What can you improve and what specific steps will you take for improvement?
Again, I should've risked bigger units on this one. I decided to risk half as much as I initially wanted because I had a couple of open orders yesterday and those had similar setups to this USDCHF trade. Besides, I planned to add to my position at the break of 1.0750. However, the price probably won't fall as much today. It could retest the trend line so that'd be another trade opportunity, I guess.
Did you execute your trade according to your Trading Plan?
Yes I did.
To leave a comment Sign up or Sign in